Question 1

Executive orders are an example of codified law.

Accepted Answer

A) True 
 B)False

Question 2

Which school of jurisprudential thought emphasizes using law as a tool for market efficiency while solving legal disputes?

Accepted Answer

A) the Critical Legal Studies School of jurisprudence 
B) the Command School of jurisprudence 
C) the Sociological School of jurisprudence 
D) the Law and Economics School of jurisprudence 
A) the Critical Legal Studies School of jurisprudence 
B) the Command School of jurisprudence 
C) the Sociological School of jurisprudence 
D) the Law and Economics School of jurisprudence

Question 3

Mark Walton was involved in a car accident in which the airbag of his car failed to deploy.He sued the car manufacturer for installing faulty airbags.But in the course of the case being heard in court,the car company and Mark decided to settle the lawsuit out of court.What important function of the law was served in this case?

Accepted Answer

A) promoting social justice 
B) maximizing individual freedom 
C) providing a basis for compromise 
D) maintaining the status quo 
A) promoting social justice 
B) maximizing individual freedom 
C) providing a basis for compromise 
D) maintaining the status quo

Question 4

Differentiate between the Historical School of jurisprudence and the Sociological School of jurisprudence.

Accepted Answer

The Historical School of jurisprudence b

Question 5

Explain the doctrine of stare decisis and how it has influenced the legal system.

Accepted Answer

Adherence to precedent is called the doc

Question 6

________ consists of a professor asking students questions about a case or legal issue to stimulate critical thinking by the students.

Accepted Answer

A) The Socratic method 
B) IRAC method 
C) Rote learning 
D) Active learning 
A) The Socratic method 
B) IRAC method 
C) Rote learning 
D) Active learning

Question 7

The Law and Economics School of jurisprudential thought believes that promoting market efficiency should be the central goal of legal decision making.

Accepted Answer

A) True 
 B)False

Question 8

________ courts were allowed to give equitable remedies under the English common law.

Accepted Answer

A) Merchant 
B) Law 
C) Chancery 
D) Appellate 
A) Merchant 
B) Law 
C) Chancery 
D) Appellate

Question 9

The philosophers of the Command School of jurisprudence will assert that the law is ________.

Accepted Answer

A) developed, communicated, and enforced by the ruling party 
B) a means to achieve and advance sociological goals 
C) a collection of a society's traditions and customs that has developed over the centuries 
D) based on human reasoning, and humans' choosing power between what is good and evil 
A) developed, communicated, and enforced by the ruling party 
B) a means to achieve and advance sociological goals 
C) a collection of a society's traditions and customs that has developed over the centuries 
D) based on human reasoning, and humans' choosing power between what is good and evil

Question 10

Philosophers of the ________ School of jurisprudence emphasize a moral theory of law,where law is based on morality and ethics,and is discovered by human reasoning and making choices between good and evil.

Accepted Answer

A) Sociological 
B) Analytical 
C) Historical 
D) Natural Law 
A) Sociological 
B) Analytical 
C) Historical 
D) Natural Law

Question 11

Explain the priority of law in the United States.

Accepted Answer

The U.S.Constitution and treaties take p

Question 12

The Critical Legal Studies School of jurisprudential thought seeks to restrict the subjective decision-making powers of judges.

Accepted Answer

A) True 
 B)False

Question 13

What is the first step in examining a legal case using IRAC method?

Accepted Answer

A) application of the law to the facts of a case using critical thinking 
B) identification of a legal issue that is to be answered 
C) identification of the law that is to be applied to a case 
D) reaching a conclusion 
A) application of the law to the facts of a case using critical thinking 
B) identification of a legal issue that is to be answered 
C) identification of the law that is to be applied to a case 
D) reaching a conclusion

Question 14

________ is described as the science or philosophy of the law.

Accepted Answer

A) Morality 
B) Ethics 
C) Justice 
D) Jurisprudence 
A) Morality 
B) Ethics 
C) Justice 
D) Jurisprudence

Question 15

Statutes are enacted by Congress and state legislatures.

Accepted Answer

A) True 
 B)False

Question 16

Stare decisis is the doctrine of ________.

Accepted Answer

A) providing proof to assert a fact in court 
B) adhering to legal precedent 
C) separating powers between state and religion 
D) ensuring all legal rights are provided to a person when otherwise deprived of them 
A) providing proof to assert a fact in court 
B) adhering to legal precedent 
C) separating powers between state and religion 
D) ensuring all legal rights are provided to a person when otherwise deprived of them

Question 17

Businesses that are organized in the United States are subject to its laws,but not to the laws of other countries in which they do business.

Accepted Answer

A) True 
 B)False

Question 18

Executive orders are issued only by the executive branch of the federal government.

Accepted Answer

A) True 
 B)False

Question 19

By allowing the U.S.citizens to practice any religion of their choice,what essential function of the law does the U.S.Constitution serve?

Accepted Answer

A) facilitating orderly change 
B) maintaining the status quo 
C) maximizing individual freedom 
D) facilitating planning 
A) facilitating orderly change 
B) maintaining the status quo 
C) maximizing individual freedom 
D) facilitating planning

Question 20

Laws in the U.S.are not set to evolve with changes in social norms.

Accepted Answer

A) True 
 B)False

Exam 1: Legal Environment of Business and Online Commerce

Executive orders are an example of codified law.

Which school of jurisprudential thought emphasizes using law as a tool for market efficiency while solving legal disputes?

Differentiate between the Historical School of jurisprudence and the Sociological School of jurisprudence.

Explain the doctrine of stare decisis and how it has influenced the legal system.

________ consists of a professor asking students questions about a case or legal issue to stimulate critical thinking by the students.

The Law and Economics School of jurisprudential thought believes that promoting market efficiency should be the central goal of legal decision making.

________ courts were allowed to give equitable remedies under the English common law.

The philosophers of the Command School of jurisprudence will assert that the law is ________.

Philosophers of the ________ School of jurisprudence emphasize a moral theory of law,where law is based on morality and ethics,and is discovered by human reasoning and making choices between good and evil.

Explain the priority of law in the United States.

The Critical Legal Studies School of jurisprudential thought seeks to restrict the subjective decision-making powers of judges.

What is the first step in examining a legal case using IRAC method?

________ is described as the science or philosophy of the law.

Statutes are enacted by Congress and state legislatures.

Stare decisis is the doctrine of ________.

Businesses that are organized in the United States are subject to its laws,but not to the laws of other countries in which they do business.

Executive orders are issued only by the executive branch of the federal government.

By allowing the U.S.citizens to practice any religion of their choice,what essential function of the law does the U.S.Constitution serve?

Laws in the U.S.are not set to evolve with changes in social norms.

Courts and Jurisdiction

Judicial, alternative, and Online Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Product and Strict Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crime

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

Digital Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties

Creation of Negotiable Instruments

Holder in Due Course and Transferability

Liability, defenses, and Discharge

Banking System and Electronic Financial Transactions

Credit, mortgages, and Debtors Rights

Secured Transactions

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, agents, and Independent Contractors

Employment, worker Protection, and Immigration Law

Labor Law

Equal Opportunity in Employment

Small Business, entrepreneurship, and General Partnerships

Limited Partnerships and Special Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Businesses

Investor Protection, e-Securities, and Wall Street Reform

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection

Antitrust Law and Unfair Trade Practices

Personal Property, real Property, and Insurance

Real Property

Landlord-Tenant Law and Land Use Regulation

Insurance

Accountants Duties and Liability

Wills, trusts, and Estates

Family Law

International and World Trade Law

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